Growing Your Business

Growing Your Business

How you evolve your business is up to  you. Do you want to stay small or have employees? How many offices to you want to have? Have you thought of franchising your business? What happens when a key person leaves? Do you have an exist strategy in place?

Stages of business evolution

Stage 1: Small one person company: A small, single business enterprise managed by one person. The owner(s) has close daily contact with employees and each phase of operation.

Stage 2: Employees: While essentially still a single-business operation, increased products or services create a need for transition from individual to team management.

Stage 3: Branch Offices:  Operations continue to concentrate on a single field or product line  but are large enough, and geographically scattered over a wide enough area, to require independently operating units that still report to a corporate office.

Stage 4: Franchising: Large, decentralized, multi-product, multi-market enterprises operating completely independently, except for established branding.